Virginia Code 13.1-944.1: Definitions
In this article:
Terms Used In Virginia Code 13.1-944.1
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Entity: includes any domestic or foreign corporation; any domestic or foreign stock corporation; any domestic or foreign unincorporated entity; any estate or trust; and any state, the United States, and any foreign government. See Virginia Code 13.1-803
- Entity conversion: means conversion. See Virginia Code 13.1-803
- Interest: means either or both of the following rights under the organic law of a foreign or domestic unincorporated entity:
1. See Virginia Code 13.1-803
“Articles of organization” has the same meaning specified in § 13.1-1002.
“Converting entity” means the domestic corporation that adopts a plan of entity conversion pursuant to this article.
“Corporation” has the same meaning specified in § 13.1-803.
“Limited liability company” has the same meaning specified in § 13.1-1002.
“LLC membership interest” has the same meaning as membership interest in § 13.1-1002.
“Member” when used with respect to a corporation has the meaning as specified in § 13.1-803, and when used with respect to a limited liability company has the same meaning specified in § 13.1-1002.
“Membership interest” has the same meaning specified in § 13.1-803.
“Person” has the same meaning specified in § 13.1-803.
“Resulting entity” means the limited liability company that is in existence immediately after consummation of an entity conversion pursuant to this article.
2012, c. 706.